Friends
Should I stay or should I go? 30 years ago, the English punk rock group “The Clash” asked this very question in the form of a song. Today, leaders in Greece are pondering the question as it pertains to being part of the Eurozone. And we wait, and wait, and wait… Anyway, as the Eurozone soap opera drags on, stocks had another see saw day. After a disappointing number out of China overnight and nothing of substance coming from the Euro leader’s dinner party, stocks still bounced early this morning based on “just ok” domestic economic numbers. After about a 50 point early rise, stocks slumped by midday and by early afternoon we were down about 50 points. But once again in the last hour stocks staged a rally to finish in positive territory.
For the day, the Dow Jones Industrial Average was up 33 points to close at 12,529. The S&P 500 was up just less than 2 points to finish the day at 1320. Gold was up $10 to trade at $1558 per ounce, and oil was up .90 to trade at $90.80 per barrel WTI.
Trading should be light tomorrow as traders head for their Memorial Day destinations, but sometimes light participation can result in some interesting volatility. We’ll let you know how the week finishes up.
Have a nice evening everyone.
